After Dr. Alex Oshymansky, a radiologist in Dallas, TX started a public-benefit company to combat the exploding prices of certain prescription drugs, he attracted a new partner—Shark Tank billionaire investor Mark Cuban. Oshymansky started in 2015 with Osh’s Affordable Pharmaceuticals and a million dollars in investment capital. Four years later, the new partnership is moving forward under the name Mark Cuban’s Cost Plus Drug Co, and donating medicine to those in need.
Mark Cuban has been outspoken about his disdain of the mixture of FDA demands for approval, and drug company greed creating soaring prices for drugs, making them unaffordable to many Americans. Now under Cuban’s brand name, the private-label arrangement allows Oshymansky to buy from third party suppliers, take care of the labeling and branding laws himself, and sell it at a serious discount with just a 15% mark-up for the business expenses.
This partnership allowed the pair to lower the cost of an anti-parasitic medication called albendazole from its normal U.S. price range of $225-$500, down to just $20. This proved especially valuable for Baylor College of Medicine, who needed thousands of doses of albendazole to complete a study they were doing on U.S. hookworm infections in the South.
“The Germ of the South,” was a catch-all term that characterized a curious lethargy and haziness of the brain, distended bellies, and emaciated shoulder blades, found across the Deep South during the 20th century. Today, American hookworm still infects large numbers of people, particularly children, due to poor sanitation and poverty. A study done in Lowndes County, Alabama of 24 homes found that 34% of stool samples contained the parasite, which is killed rather quickly by albendazole.
Cuban and Oshymansky donated the first 10,000 doses of the company’s albendazole supply to Baylor and the author of the study, Dr. Rojelio Mejia, so that volunteers from Alabama to New York who test positive for hookworm could immediately purge the parasite from their bodies. “We found it deeply troubling that albendazole is extremely expensive in the United States, and are happy to be able to manufacture it for free for this research and provide it at significantly decreased prices to the rest of the U.S. market.”
Other drug companies estimate that the number of doses Cuban and Oshymansky donated would have cost $2 million, an overwhelming cost that would have kept the research from being conducted. Cuban’s Cost Plus Drugs is aiming for 100 new drug offerings by the end of 2021, all with no hidden costs, no middlemen and no rebates only available to insurance companies. They’re also in the process of constructing their own brick-and-mortar pharmacy in Dallas where they hope to earn a profit on non-pharmaceutical items that can fund the lower cost formulations and offer drugs for rare diseases directly to patients or through outpatient facilities. If successful, Cuban and Oshymansky’s efforts could force drug companies that continue to overcharge their customers to lower their prices or go out of business.
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The Dallas Mavericks and the basketball team’s owner Mark Cuban were sanctioned by the NBA after an independent investigation substantiated a number of allegations against men within the organization. The findings include improper conduct in the workplace and domestic violence. Mark Cuban publicly apologized and said he will pay $10 million to women’s organizations as part of an agreement with the NBA. Cuban agreed to the $10 million payment as well as staffing and leadership changes.
The sanction came after a months-long investigation into accusations against several employees, including the former team president and chief executive, Terdema Ussery. The investigation arose from an article in Sports Illustrated in February that exposed a workplace filled with problems for female employees. The article said Ussery had engaged in “various acts of inappropriate conduct toward women,” and that Earl Sneed, a former writer for the team’s official website, had faced numerous allegations of domestic violence.
Although Cuban did not face accusations of misconduct, the employees who were mistreated suggested the harassment had gone on for years and that he must have known about it and had done little to prevent it. The investigation included information gathered from more than 200 interviews with current and former Mavericks employees. Ussery was found to have engaged in improper workplace conduct toward 15 female employees, including touching them and making inappropriate comments. Sneed had committed two acts of domestic violence, including one against a co-worker. Cuban was made aware of the episode but did not fire him. Ussery had already resigned from the team in 2015 to take a position with Under Amour. Shortly after the Sports Illustrated article, Sneed announced he would be leaving the team and then deleted his Twitter account.
The investigation also found that Chris Hyde, a longtime senior account executive, had made inappropriate comments toward women, viewed pornography on his workplace computer and made unsolicited sexual advances toward co-workers. Even after Cuban warned Hyde about looking at pornography at the office, Hyde’s inappropriate behavior continued for years.
In a statement, the league announced that the money from Cuban would be donated to a variety of organizations chosen by an advisory council of Mavericks executives, including Cuban, as well as several N.B.A. officials. The inquiry, conducted by independent investigators overseen by the league, also recommended that the Mavericks hire more women, including in leadership positions, and create a formal process for employees to report misconduct. The N.B.A. ordered the Mavericks to file quarterly reports on its progress in those areas, and to begin workplace training for all staff members, including Cuban, 60, who acquired a majority stake of the Mavericks in 2000.
“The findings of the independent investigation are disturbing and heartbreaking,” Commissioner Adam Silver said in a statement, “and no employee in the N.B.A., or any workplace for that matter, should be subject to the type of working environment described in the report.”
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